Stifel Financial Corp Lowers Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Stifel Financial Corp reduced its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 46.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,092 shares of the company’s stock after selling 12,133 shares during the quarter. Stifel Financial Corp’s holdings in Alignment Healthcare were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Alignment Healthcare during the 3rd quarter valued at about $95,000. Principal Financial Group Inc. increased its position in Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after purchasing an additional 2,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alignment Healthcare during the third quarter worth approximately $131,000. Creative Planning raised its stake in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Alignment Healthcare by 110.0% in the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after purchasing an additional 19,129 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Hyong Kim sold 22,460 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $11.03, for a total transaction of $247,733.80. Following the completion of the transaction, the insider now directly owns 533,070 shares of the company’s stock, valued at $5,879,762.10. This trade represents a 4.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sebastian Burzacchi sold 8,550 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total transaction of $96,273.00. Following the transaction, the chief operating officer now directly owns 217,395 shares in the company, valued at $2,447,867.70. The trade was a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 631,504 shares of company stock valued at $7,639,287. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Barclays increased their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. KeyCorp initiated coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Stephens raised Alignment Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $17.00 in a research note on Tuesday, December 3rd. Finally, UBS Group increased their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.44.

Alignment Healthcare Stock Up 3.1 %

Shares of NASDAQ:ALHC opened at $11.16 on Tuesday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -14.49 and a beta of 1.42. The company has a 50 day moving average of $11.87 and a two-hundred day moving average of $10.31. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $14.25. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same period last year, the business earned ($0.19) EPS. The business’s revenue was up 51.6% on a year-over-year basis. As a group, analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Alignment Healthcare Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.